Key Points
- Ginkgo Bioworks insider Steven Coen sold 2,403 shares at an average price of $15.00, for total proceeds of $36,045. Following the transaction, he retained 49,448 shares.
- Ginkgo reported a quarterly loss of $0.75 per share, beating estimates, but revenue of $20.16 million fell short of the $24.05 million consensus. The company continues to post significant losses, with analysts expecting a full-year loss of $3.20 per share.
- Analyst sentiment remains weak, with an overall “Reduce” consensus and an average price target of $6.33. Institutional investors own 78.63% of the company, while several funds recently initiated or increased positions.
Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report) insider Steven Coen sold 2,403 shares of Ginkgo Bioworks stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $15.00, for a total value of $36,045.00. Following the completion of the sale, the insider owned 49,448 shares of the company's stock, valued at $741,720. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Ginkgo Bioworks Price Performance
Shares of Ginkgo Bioworks stock opened at $11.51 on Thursday. Ginkgo Bioworks Holdings, Inc. has a 1 year low of $5.37 and a 1 year high of $18.22. The firm's 50-day moving average is $8.40 and its two-hundred day moving average is $8.30. The stock has a market cap of $774.75 million, a price-to-earnings ratio of -2.30 and a beta of 1.79.
Ginkgo Bioworks (NYSE:DNA - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.15. Ginkgo Bioworks had a negative net margin of 259.96% and a negative return on equity of 60.27%. The business had revenue of $20.16 million for the quarter, compared to the consensus estimate of $24.05 million. On average, equities analysts expect that Ginkgo Bioworks Holdings, Inc. will post -3.2 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Balance Capital Partners L.P. purchased a new position in Ginkgo Bioworks during the 2nd quarter valued at about $1,972,179. Renaissance Technologies LLC purchased a new stake in Ginkgo Bioworks during the first quarter worth about $616,000. Inspire Investing LLC lifted its position in shares of Ginkgo Bioworks by 46.4% during the first quarter. Inspire Investing LLC now owns 83,905 shares of the company's stock worth $514,000 after purchasing an additional 26,612 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Ginkgo Bioworks during the second quarter worth about $262,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Ginkgo Bioworks by 23.8% in the first quarter. Dimensional Fund Advisors LP now owns 127,048 shares of the company's stock valued at $779,000 after purchasing an additional 24,434 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on DNA shares. Oppenheimer set a $5.00 price objective on shares of Ginkgo Bioworks in a report on Wednesday, September 9th. BTIG Research reaffirmed a "sell" rating and set a $5.00 target price on shares of Ginkgo Bioworks in a research report on Friday, September 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ginkgo Bioworks in a report on Friday, July 17th. TD Cowen downgraded Ginkgo Bioworks from a "buy" rating to a "hold" rating and cut their price target for the company from $12.00 to $9.00 in a report on Friday, August 7th. Finally, Zacks Research raised Ginkgo Bioworks to a "hold" rating in a research report on Monday, August 17th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Ginkgo Bioworks currently has an average rating of "Reduce" and a consensus price target of $6.33.
Read Our Latest Stock Report on DNA
About Ginkgo Bioworks
(
Get Free Report)
Ginkgo Bioworks, Inc is a biotechnology company that develops biological engineering technologies and services. Its platform is designed to help customers program cells and microorganisms to produce products or perform functions for applications in areas such as pharmaceuticals, agriculture, food, chemicals and materials.
The company combines biological research, laboratory automation, genetic engineering, data analysis and software through its cell-programming platform and foundry operations.
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